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Entrée Gold contemplates restructuring to reduce costs

Entrée Gold Inc. said Oct. 3 that it is reviewing several restructuring options, including splitting synergistic assets into two separate publicly traded firms, in a bid to cut unnecessary costs.

The company's principal assets include a 20% carried joint venture interest in two of the copper-gold deposits at the Oyu Tolgoi project in Mongolia, and full ownership of the Ann Mason copper-molybdenum project in Nevada and the Lordsburg copper property in New Mexico.

"We are currently evaluating the idea of restructuring as a first step towards closing the valuation gap between our current market capitalization and the real value of the company's assets," said Stephen Scott, Entrée Gold's president and CEO.

The company, however, noted that there can be no guarantee that such evaluation will result in a spinout or other similar transaction.